Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

The small gap down of yesterday’s session and the price action afterwards shows the bearish domination and gives perspective on a further decline. The $1,220 support level is now clearly a resistance level and an eventual pullback will probably retest this level.

The H1 chart shows the in-depth price action of the symmetrical triangle started at the end of October. The lower border acted as support until it was broken, turning the support into resistance. The main target of the triangle is set around the $1,150 area, being the same length as the base of the triangle.

The break of the triangle was quickly followed by a retest of the resistance (a pullback was created after the break) before the down move resumed.